New Delhi: Marri Retail, an apparel and jewellery retailer, has filed preliminary papers with capital markets regulator Sebi to raise funds through its initial public offering (IPO).
The Hyderbad-based company's proposed IPO is a combination of a fresh issue of shares worth Rs 522 crore and an offer for sale (OFS) of 2.7 crore shares by promoter Marri Venkat Reddy, according to the draft red herring prospectus (DRHP) filed on Sunday.
Proceeds from the fresh issuance will be used for payment of debt, opening of 10 new apparel stores, one new apparel store with a jewellery Store-in-Store (SIS) (Integrated Retail Store), and two new standalone jewellery stores, expenses towards lease and sub-lease rent payments for existing stores and warehouses and general corporate purposes.
The company may consider a pre-IPO placement for up to Rs 104.4 crore. If such initiative is completed, the fresh issue size will be reduced.
Marri Retail commenced apparel retail business as a proprietorship under the brand name 'Jeans Corner' in 1999 and entered the large-format retail segment by launching the first shopping mall under the "The Chennai Shopping Mall" brand in Hyderabad in 2013.
The company has 34 stores across 26 districts in Telangana, Andhra Pradesh, Karnataka, and Maharashtra. The firm operates its stores under multiple brands, including The Chennai Shopping Mall, JC Mall, J.C. Brothers and Jeans Corner in the apparel category, and The Chennai Shopping Mall Jewellers in the jewellery category.
On the financial front, Marri Retail's revenue from operations stood at Rs 1,301.42 crore in the six-months ended September 2025 and net profit at Rs 83.52 crore Nuvama Wealth Management, IIFL Capital Services and Motilal Oswal Investment Advisors have been appointed as merchant bankers to manage the company's maiden public offering.
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